Explanatory note

The Regulations provide for 30th November 2015 as the date that paragraphs 10 to 12 of Schedule 6 to the Finance Act 2015 (c. 11) have effect.

Paragraph 10 amends sections 198A and 198B of the Income Tax Act 2007 (c. 3) (“ITA”) such that various categories of entity cease to be entitled to income tax relief under the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme in respect of certain energy generation activities.

Paragraph 11 amends sections 309A and 309B of ITA such that various categories of entity cease to be entitled to income tax relief under the Venture Capital Trusts scheme in respect of certain energy generation activities.

Paragraph 12 makes various consequential amendments.

A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy.